Loading ...DUST
It seems everyone has given up on the uptrend and the levels of support that are still in place such as the trendline, breakout backtest, and 20ema. Yes, of course prices could collapse and a near term trend reversal could occur but as a rule I don’t sell support in an uptrend….I buy it until it’s no longer support.
That’s a good rule Mark
I agree
I just need confirmation from the daily GDX…being more cautious these days.
Premarket GDX of 13.06 breaks the upward trend it was in Fri afternoon.
http://www.nasdaq.com/symbol/gdx/real-time
Gold has broken down out of it’s upward trend.
I’m expecting it to be a DUST day, or, at least a morning.
Natural Gas in in a nice trading range lately and today it should be going back down which is in the direction of the main trend.
agreed Tim. This is essentially what I think you’re looking at and it’s what I was reflecting on Friday. This a bearish structure and it does appear both GLD and GDX will break flags this am. From there we just need to see what happens.
http://schrts.co/gsHHpq